The 28 year old player ends contract June of 2013 & has already notched up 37 goals this season for Arsenal. The rumour from the English press is that Real Madrid is willing to offer 30M€, but Manchester City is also in there as well with a big figure offer.
While this is a story from England, here in Spain, the centre of the spring of "Real Madrid" Football waters, there ate strong rumours with theses players: Javi Martinez ( At. Bilbao) & the return of Sergio Aguero ( Mnachester City) ...these are real "vibrators" & locally.
So stay tuned as things - as every year - are heating up. Plus lets not forget, with the Euro 2012 competition soon there may arise a "new star" that may have all Clubs running over themselves to sign.